Palatin Technologies (NYSEAMERICAN:PTN) Stock Price Crosses Above Two Hundred Day Moving Average of $0.00

Palatin Technologies (NYSEAMERICAN:PTN) Stock Price Crosses Above Two Hundred Day Moving Average of $0.00

Palatine Technologies logoPalatine Technologies, Inc. (NYSEAMERICAN:PTN – Get Rating)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.00 and trades as high as $3.10. Palatin Technologies shares last traded at $2.98, with a volume of 33,532 shares trading hands.

Analyst Upgrades and Downgrades

A number of equity analysts recently weighed in on the stock. LADENBURG THALM/SH SH increased their price objective on shares of Palatin Technologies to $50.00 and gave the stock a “buy” rating in a research report on Friday, September 9th. HC Wainwright reaffirmed a “buy” rating and set a $70.00 price objective on shares of Palatin Technologies in a research report on Thursday, September 8th.

Palatin Technologies Trading Down 3.9 %

The company has a current ratio of 1.65, a quick ratio of 1.60 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $27.82 million, a price-to-earnings ratio of -0.75 and a beta of 0.72.

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Palatin Technologies (NYSEAMERICAN:PTN – Get Rating) last posted its quarterly earnings data on Monday, November 14th. The biopharmaceutical company reported earnings per share for the quarter, topping analysts’ consensus estimates of ($1.34) by $0.48. Palatin Technologies has a negative net margin of 1,713.72% and a negative return on equity of 169.74%. The firm had revenue of $0.87 million during the quarter, compared to analysts’ expectations of $0.80 million. As a group, analysts expect that Palatin Technologies, Inc. will post -2.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Palatin Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP purchased a new position in Palatin Technologies in the 3rd quarter valued at approximately $135,000. Vanguard Group Inc. boosted its position in Palatin Technologies by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 9,559,564 shares of the biopharmaceutical company’s stock valued at $4,398,000 after buying an additional 48,812 shares during the period. State Street Corp boosted its position in Palatin Technologies by 8.2% in the 1st quarter. State Street Corp now owns 757,455 shares of the biopharmaceutical company’s stock valued at $349,000 after buying an additional 57,440 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Palatin Technologies by 388.0% in the 2nd quarter. Renaissance Technologies LLC now owns 226,900 shares of the biopharmaceutical company’s stock valued at $64,000 after purchasing an additional 180,400 shares in the last quarter. Hedge funds and other institutional investors own 7.81% of the company’s stock.

About Palatine Technologies

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Palatin Technologies, Inc., a biopharmaceutical company, develops targeted receptor-specific therapeutics for the treatment of various diseases in the United States. The company’s lead product is Vyleesi, a melanocortin receptor (MCr) agonist for the treatment of premenopausal women with hypoactive sexual desire disorder.

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